Gas prices in some Ontario cities will climb over $2 a litre this weekend: analyst

Gas prices will continue to shatter records as the price at the pumps continue to rise this week.

For the first time, drivers in many Ontario municipalities will be paying over $2 a litre for gas.

“Overnight Friday to Saturday we’re going to see a five-cent a litre increase,” said Dan McTeague, president of Canadians for Affordable Energy.

This rise will have prices reach $2.029 per litre Saturday.

Get breaking National news

For news impacting Canada and around the world, sign up for breaking news alerts delivered directly to you when they happen.

Sign up for breaking National newsletter Sign Up

By providing your email address, you have read and agree to Global News' Terms and Conditions and Privacy Policy.

McTeague also predicts a six-cent increase overnight Saturday into Sunday, which will have gas prices sitting at around $2.08 by the end of the weekend.

The Greater Toronto Area saw a drop in prices on Thursday before rising to 197.9 cents per litre Friday at most gas stations.

“Count on it to be worse. Count on it to get really bad between now and the May long weekend,” McTeague said in an interview with Global News.

McTeague said several factors including a weak Canadian dollar, supply and demand issues and the federal carbon tax have pushed gas prices higher.

The previous record was around $1.99 per litre, which was set Monday.

0:31 Gas spikes up again in Winnipeg on Friday

• Gas spikes up again in Winnipeg on Friday
• New Brunswick premier says province may consider rebate due to rising fuel prices
• Gas prices rise to all-time high in Nova Scotia
• Are higher gas prices here to stay?

Previous Video

Next Video